1301.0 - Year Book Australia, 2012
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 24/05/2012
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Statistics contained in the Year Book are the most recent available at the time of preparation. In many cases, the ABS website and the websites of other organisations provide access to more recent data. Each Year Book table or graph and the bibliography at the end of each chapter provides hyperlinks to the most up to date data release where available.
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INTERNATIONAL COMPARISONS
Table 28.11 provides an international comparison of OECD countries' general government net financial liabilities as a percentage of nominal GDP. The Australian GDP data are on a 2008 System of National Accounts (2008 SNA) basis while other countries are on a 1993 SNA basis. The table provides an indication of the countries' relative financial positions.
Net financial liabilities measures the gross financial liabilities of the general government sector less the financial assets of the general government sector. Depending on the institutional structure of the country concerned and data availability, such assets may be cash, bank deposits, loans to the private sector, participation in private sector companies, holdings in public corporations or foreign exchange reserves. If a country's general government records a negative percentage for its net financial liabilities as a percentage of nominal GDP, its financial assets are greater than its financial liabilities.
Australia's general government net financial liabilities increased to 1.8% of GDP in 2010, ranking Australia 10th lowest out of the 30 countries represented, a drop from 9th in 2009.